Savings
Personal Savings Accounts
Our consumer savings account options are designed with your life in mind. No matter what stage of life you are in, our savings account options are designed to help you save for those important milestones in your life. From college savings, saving for a down-payment, or saving for retirement, we’re here to help you achieve your dreams.
Simply Savings:
A simple way to earn higher interest on your savings. Designed so you can earn more, this savings account offers CD level interest rates with no locked in term.
- Earn higher than the FDIC national average savings rate
- $100 Opening Deposit
- $100 Available (collected) Balance to waive monthly service charges(P4)
- Tiered Interest Rate (see Simply Savings Split Balance Tiers)
- 6 withdrawals/debits per statement cycle at no charge
- One (1) Simply Savings account is permitted per primary Tax ID/Social Security Number
- ATM Card(P1)
- FREE online banking and mobile banking
Personal Savings:
Our basic savings account with a low minimum balance requirement, this account offers you the ability to start earning interest on your excess funds.
- $100 Opening Deposit(P2)
- $100 Average Available (collected) Balance to waive monthly service charges(P2)
- 3 withdrawals/debits per statement cycle at no charge
- ATM Card(P1)
- FREE online banking and mobile banking
Money Market Savings:
Our savings account for higher balances.
- $100 Opening Deposit
- $2,500 Average Available (collected) Balance to waive monthly service charges(P3)
- $25,000.01 Average Available (collected) Balance to earn interest
- ATM Card(P1)
- FREE online banking and mobile banking
College Fund Account:
Our savings account specifically designed for college fund savings, this is a great way to save for your child’s education.
- $250 Opening Deposit
- $250 Average Available (collected) Balance to earn interest
- FREE online banking and mobile banking
- Interest Rate based on the highest tier of our 30 Month CD rate
Personal Savings Account Options
| Simply Savings(P4) | Personal Savings | Money Market Savings | College Fund Account | |
|---|---|---|---|---|
| Opening Deposit | $100 | (P2)$100 | $100 | $250 |
| **Average Available (collected) Balance to Earn Interest | (P4)All Balances Based on Tiered Split Balances on the Available (Collected) Balance*** | All Balances | $25,000.01 | $250 |
| Images On Statements | N/A | N/A | N/A | N/A |
| Free Online & Mobile Banking | Yes | Yes | Yes | Yes |
| **Average Available (collected) Balance Required to Avoid *Monthly Service Charge | (P4)$100 Based on the Available (Collected) Balance*** | (P2)$100 | (P3)$2,500 | N/A |
*All accounts subject to monthly service fees are eligible for reduced fees or waived fees based on specific requirements within each account. Please see a Personal Banker for more details.
(P1) Available upon request with a charge.
(P2) There are No minimum average available balance requirements for children under 18. Opening Deposit required is $25.00 for children under 18. An Excess Withdrawal fee of $1.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of (3) during a statement cycle/period. Insufficient funds are not allowed, but if it were to occur, the applicable Overdraft Item Charge may be assessed. A $2.00 Low Balance Service Fee is charged when the Average Available (collected) Balance (AAB)** is below $100.00 for the statement period.
(P3) All Accounts will incur a $10.00 per withdrawal/debit over 6 per statement cycle, $1.00 per deposit over 4 per statement cycle.
(P4) All Simply Savings accounts will incur a $2.00 charge per withdrawal/debit over 6 per statement cycle. A $2.00 Low Balance Service Fee is charged when the Available (collected) Balance (AB)*** is below $100.00 for the statement cycle. The interest for this account is based on variable rates for each “Split Balance” tier. Rates are subject to change after the account is opened. Read further details on the split balance tiers. Only one (1) Simply Savings account is permitted per primary Tax ID/Social Security Number.
**The (AAB) is calculated by adding the available principal balance in the account for each day of the period and dividing that figure by the number of days in the period. The available balance is the account balance, less unpaid deposited items drawn on other financial institutions in the process of collection.
***The available balance is the account balance, less unpaid deposited items drawn on other financial institutions in the process of collection.
Please E-mail us or contact a Personal Banker at one of our branches for current rate information.
Rates valid as of May 1, 2025.
Important Information about Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, Federal Law requires all financial institutions to obtain, verify, and record information that identifies each person or business that opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that allows us to identify you. We may also ask to see your driver’s license or other identifying documents.
Switch Today!
Our friendly staff is ready to help you create a new account or transfer your existing account to Grinnell State Bank.
